Bank of America Has Lowered Expectations for World Kinect (NYSE:WKC) Stock Price

World Kinect (NYSE:WKC - Get Free Report) had its price target reduced by equities researchers at Bank of America from $27.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Bank of America's price target would suggest a potential upside of 4.92% from the company's previous close.

Separately, Stifel Nicolaus dropped their target price on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st.

World Kinect Stock Performance

WKC stock traded down $0.05 during midday trading on Friday, reaching $24.78. The company had a trading volume of 586,234 shares, compared to its average volume of 762,586. World Kinect has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The firm has a market capitalization of $1.41 billion, a PE ratio of 23.38, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $26.89 and a 200 day moving average price of $27.75.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business's revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Analysts anticipate that World Kinect will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at $29,512,064.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WKC. HHM Wealth Advisors LLC bought a new position in World Kinect during the 4th quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in World Kinect in the third quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in World Kinect during the 4th quarter worth approximately $48,000. Centricity Wealth Management LLC acquired a new position in shares of World Kinect in the 4th quarter valued at $74,000. Finally, New Age Alpha Advisors LLC acquired a new stake in World Kinect during the 4th quarter worth $98,000. Institutional investors own 97.06% of the company's stock.

About World Kinect

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.